Bulgarian homebuyers prefer ready, furnished apartments over renovation

A large share of Bulgarian homebuyers now prefer to purchase newly built apartments that already have an occupancy permit, completed finishing works, furniture and basic electrical appliances. Such ready‑to‑move‑in properties are scarce, but buyers are willing to pay higher prices to avoid the time, cost and uncertainty of renovation work.

Renovation costs remain high and unpredictable, prompting many to choose fully finished homes despite the premium. About one‑third of all property transactions involve new construction, while two‑thirds are on the secondary market. Limited supply of new units and higher prices push some buyers toward older apartments. The main motivations stay the desire for a better home and the investment potential of real estate. Although Bulgaria’s expected entry into the eurozone is no longer a direct purchase driver, related economic factors continue to influence the market. Investments from Bulgarians living abroad and other foreign buyers, attracted by lower prices compared with more developed economies, further fuel demand and push up local property prices.